What awaits the Harry Winston brand in the hands of the Swatch Group

27 march 2013 Swatch has officially announced the completion of the acquisition of the brand Harry Winston Diamond Corp. The total cost of the purchase was $750 million, plus an estimated $250 million currently owed.

Harry Winston held a 40% stake in the Diavik Diamond Mine and is in the process of completing the purchase of another Ekati Diamond Mine, including a diamond sorting and sales division. Both mines are in Northwest Canada and the company had to sell its retail jewelry brand to finance a $500 million purchase of a second mine.

In 2006, the Canadian diamond mining corporation Aber Corp. acquired an American luxury jewelry business to form Harry Winston Diamond Corp. with a retail division and one that manages diamond mining. And now, when the value of the brand has grown many times over the years and it makes sense to sell it to a company like Swatch, the former owners can afford to return to their original plans and engage exclusively in the extraction of precious stones under a new name - Dominion Diamond Corp.